NEW YORK CITY-Oaktree Capital Management and Taconic Investment Partners have reached a contract to purchase a development site at 71 Laight St. in TriBeCa for $65 million with plans to construct a seven-story, 34-unit condominium tower. Capital One and Bank of America have already provided $50 million in financing for the project.
Alvaro Arranz, the previous owner, bought the property for $57 million. The Laight Street site is also called 401 Washington St. The project is being designed by Morris Adjmi. For the full story, go to Crain's New York Business .
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